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(Z18) Testing Key Resistance...>

US 10YR FUTURE TECHS
US 10YR FUTURE TECHS: (Z18) Testing Key Resistance
*RES 4: 120-18 Descending trendline (off May and Aug highs)
*RES 3: 119-27 Former range top (Jul/Aug)
*RES 2: 119-25 100-DMA
*RES 1: 119-15 Ascending Trendline (off May and Aug lows)
*PRICE: 119-14 @ 16:06 GMT, Sep 12
*SUP 1: 119-06 Ascending trendline (off Jun and Aug lows)
*SUP 2: 119-02 Low Aug 1
*SUP 3: 118-29+ Low Jun 13 (Continuous contract)
*SUP 4: 118-10+ Low May 17 (Continuous contract)
The break of 4-month trendline support Tuesday may be re-tested in the near term
given intraday price action Wednesday, with 119-15 now being tested. For now
next support remains at the bottom of the Jun-Sep trading range at 119-06. Even
if the contract holds the latter, the break of the former implies a much weaker
uptrend going forward for bulls. In the event both fail to hold, bears will eye
up support at the lows of Aug (119-02) and Jun (118-29+, continuous contract).

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